Question #2: How Long Has it Been for Sale? Test your knowledge of the Twin Cities housing market, and guess how much this single family home just northeast of Lake Calhoun in Minneapolis’ Uptown neighborhood is listed for: A. $150,000 B. $237,500 C. $399,900 D. $1.1 million Answer: “D.” (believe it or not) While the...Read More
False Negatives and False Positives In a post earlier this month titled, “Who’s Watching the Listing?,” I talked about the utility — and lack thereof — of tracking how many times a particular property has been saved on MLS. Generally speaking, the more people watching a listing, the better; presumably, prospective Buyers like the home but not the price, and...Read More
Pricing a Home When the Comp’s are Tough “You have to know the rules before you know when you can break them.” Normally, the standard way of doing a CMA (“Comparative Market Analysis”) is to limit your focus to three Comp’s, or “Comparable Sold Properties.” By definition, those are the nearby homes most similar in...Read More
